I'd suggest teaming up with someone who knows what they are doing and can see around corners to avoid lawsuits, wasting seller's time and wasting your time on deals that may not work.

I own in both LLC's and my name, and at the end of the day a good insurance policy is always first with financing in place being a close second in acting as a deterrent to lawsuits.  

It is worth at least an initial consultation with a real estate attorney.If I was in your situation, I'd probably make two nice up and down townhouses with the bottom units being "mother in law" suites with separate entrances.

Whereas we are taking a small hit on the North Carolina home, and currently have a tenant, we would be intrested in selling that one as well.We feel that in purchasing these two homes, we were given misleading information by the Marshall Reddick organization and were wondering if there has been a class action lawsuit filed against Reddick in 2008.

I have read misrepresentation on the seller disclosure form could lead to lawsuit or criminal charges?

If you wanted to resell, the single family with an in-law suite would probably appreciate better and be easier to sell down the road as the buyer pool is bigger (homeowners, not just investors).

It's a unique property in that it's a SFH with a full in-law suite in the basement (2 bed/2 bath with full kitchen) and a separate addition that can be blocked off and used as a private room STR. 

Hello! I live in CA and I'm a passive investor in two rental properties. For each, I'm named on title as a tenancy-in-common partner. My partner is also named on title, and his property management company does ALL rep...

It's just a paper that lists the payments each tenant made but it keeps the owner honest as they know you are relying on that in making the purchase and will have a lawsuit against them if they lie.

Perhaps a broader set of questions: In general, what stops a bad person from claiming to have a disability in order to hide behind the potential of a lawsuit?